Block Network

October 21, 2020

Peer-to-peer NFT sales surge as average purchase price increases 7X

The total lifetime NFT volume on the Ethereum blockchain alone has exceeded $120 million. Non-fungible tokens and digital collectibles have been selling like hotcakes over the past couple of months as volumes on peer-to-peer marketplaces surge.From NFTs representing NBA finals moments to crypto industry character cards, the total lifetime NFT volume on the Ethereum blockchain […]

The Bahamas launches world’s first CBDC, the ‘Sand Dollar’

This makes The Bahamas one of the first countries in the world to officially launch a CBDC beyond a pilot program. The Central Bank of the Bahamas has announced the country’s “Sand Dollar” — a state-backed virtual currency — is now available nationwide.According to an Oct. 20 Facebook post from Project Sand Dollar, the central […]

Bitcoin price rally to $12K is meaningless until bulls flip it to support

Bitcoin price is near $12K again but this level may cause more harm than good if bulls fail to flip it to support. On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1. Cryptocurrency daily market performance snapshot. Source: Coin360The move occurred […]

October 20, 2020

OKEx users express frustration over suspended withdrawals

“It’s a bit weird one of the biggest exchanges in the world isn’t letting us withdraw money for so long,” said one crypto Twitter user. Major exchange OKEx suspended crypto withdrawals on Oct. 16. With little information coming from the firm or its CEO Jay Hao in the time since, users have begun demanding answers […]

Brazil is prepping an IPO for its state-run digital bank

Brazilian Minister defends IPO of federal digital bank created to aid population during pandemic Brazil’s Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil “is about to” join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares […]

Kraken’s Cryptowatch ships desktop trading terminal for expert traders

One desktop app, many exchanges. The Cryptowatch platform, a subsidiary of the Kraken exchange, announced on Tuesday the release of its desktop-based trading app.Cryptowatch is a trading terminal that aims to group most market data and exchanges under one roof. Traders using the platform are able to connect their accounts across many popular exchanges and […]

Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery.The firm concluded that “CME Bitcoin futures […]

In China, most blockchain R&D funds are going toward this segment

China’s growing interest in blockchain technology spreads to publicly traded companies. A report published by Securities Daily explained how China’s publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual […]

Breakout or fakeout? Top traders react to Bitcoin price rally to $12K

Bitcoin price rallied to $12,000 but traders are unsure whether the move is a breakout or a fakeout. Within the past few hours, Bitcoin (BTC) price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the […]

Pomp says US digital dollar needs to happen now

The U.S. doesn’t mind coming a bit late to the CBDC party, but is that the wrong approach? Recent comments from Jerome Powell, the chairman of the U.S. Federal Reserve, show the American government is not especially concerned with speed when it comes to developing a central bank digital currency, or CBDC. In contrast, Morgan Creek […]